HARRISBURG, Pa., Aug. 19 /PRNewswire/ -- Governor Edward G. Rendell today announced that the Pennsylvania Department of Revenue has issued more than $7 million in tax credits to 10 production companies, for the filming of 17 projects that occurred in Pennsylvania between July and December of 2004.
"Pennsylvania continues to be a strong leader in attracting television and film productions and the tax credit program helps us to remain competitive with other locations," Governor Rendell said. "Through our tax credit program, we are investing in an industry that employs thousands of skilled and talented Pennsylvanians in production jobs and an economic impact of more than $218 million."
"Not only are television and film productions supporting jobs, they are spending money, buying our goods and services while they are here showcasing our state," Governor Rendell added. "Filmmakers know they can easily find urban and rural locations and that our film workers can handle any size project or production."
The Governor said the commonwealth saw an influx of more than $218 million due to the film industry in 2004 - money that is spent in hotels, restaurants, and small businesses and communities across the state. In addition to the Pennsylvania Film Office, the Pittsburgh Film Office and the Greater Philadelphia Film Office have also contributed significantly to the growth of filmmaking in those regions.
The Pennsylvania Film Production Tax Credit program provides up to a 20 percent Film Production Tax Credit for film production expenses incurred in the commonwealth. The tax credit is available for feature films, television series and shows of 15 minutes or more in length that are intended for a national audience.
To qualify for the tax credit, 60 percent of the total production expenses must be incurred in Pennsylvania during the taxable year. Production expenses that are eligible for a tax credit include wages and salaries, construction, operations, editing, photography, sound synchronization, lighting, wardrobe and accessories, and the cost of rental facilities and equipment. Marketing and advertising costs cannot be applied toward the tax credit.
The names of the recipients will be released next April when the Department of Revenue makes its mandated report to the General Assembly.
The Film Production Tax Credit will be jointly administered by the Department of Revenue and the Pennsylvania Film Office. Since 1977, the Film Office has been providing support services to the film industry as part of the Pennsylvania Department of Community and Economic Development.
For more information on the Film Production Tax Credit, please visit http://www.newpa.com .
Source: Pennsylvania Office of the Governor